Homburger advised Evolva Holding SA on its CHF 86 m rights offering and private placement
On November 8, 2017, Evolva Holding SA (Evolva), a SIX Swiss Exchange listed company, announced the successful completion of its CHF 86 m rights offering and private placement. Evolva is a biotech company with the mission to discover, develop, produce and commercialize sustainably-sourced, next generation ingredients in the health, wellness and nutrition markets.
Evolva raised the funds in two transactions. In a first step, Evolva sold in a private placement a total of 68 m shares from existing authorized share capital and treasury shares to Swiss asset manager Pictet Asset Management SA and British investment firm Cologny Advisors LLP. As a second step, Evolva completed an ordinary capital increase of 296,376,535 new shares through a rights offering to existing shareholders, whereby 8 shares entitled to subscribe for 5 new shares at an offer price of CHF 0.22. At the end of the subscription period, subscription rights for 283,782,385 new shares have been exercised (equivalent to 95.8% of the total shares offered in the rights issue), the remaining shares were sold in the market.
Homburger advised Evolva in this transaction. The Homburger team was led by partner Hansjürg Appenzeller (Corporate / M&A and Financial Services) and included partner Stefan Oesterhelt (Tax), associate Anna Peter, junior associate Fabiana Wichert and paralegal Susanne Leisinger (all Corporate / M&A).